96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2638

 

Introduced 2/20/2009, by Rep. Dennis M. Reboletti

 

SYNOPSIS AS INTRODUCED:
 
620 ILCS 65/21

    Amends the O'Hare Modernization Act. Provides that the city of Chicago must reimburse all taxing districts (rather than only school districts and community college districts) for lost tax revenue resulting from the city's acquisition of parcels of property for the O'Hare Modernization Program. Deletes language providing that the city's obligation to reimburse school districts and community college districts ends with the 2009 taxable year and providing that no reimbursements are payable after January 1, 2010. Increases from $20,000,000 to $40,000,000 the maximum amount that the city shall pay out under the provision. Effective immediately.


LRB096 10664 AJT 20837 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2638 LRB096 10664 AJT 20837 b

1     AN ACT concerning transportation.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The O'Hare Modernization Act is amended by
5 changing Section 21 as follows:
 
6     (620 ILCS 65/21)
7     Sec. 21. Reimbursement for tax base losses.
8     (a) Whenever the City acquires parcels of property within
9 any taxing school district or community college district for
10 the O'Hare Modernization Program, the City shall, for the
11 following taxable year and for each of the 5 taxable years
12 thereafter, pay to that district the amount of the total
13 property tax liability of the acquired parcels to the district
14 for the 2002 taxable year, increased or decreased each year by
15 the percentage change of the district's total tax extension for
16 the current taxable year from the total tax extension for the
17 prior taxable year; provided that no annual increase shall
18 exceed the lesser of 5% or the annual increase in the Consumer
19 Price Index. Funds payable by the City under this Section shall
20 be paid exclusively from non-tax revenues generated at airports
21 owned by the City, and shall not exceed the amount of those
22 funds that can be paid for that purpose under 49 U.S.C.
23 47107(l)(2).

 

 

HB2638 - 2 - LRB096 10664 AJT 20837 b

1     (b) Notwithstanding any other provision of this Section:
2 (i) no funds shall be payable by the City under this Section
3 with respect to any taxable year succeeding the 2009 taxable
4 year; (ii) in no event shall such funds be payable on or after
5 January 1, 2010; (iii) in no event shall the total funds paid
6 by the City pursuant to this Section to all districts for all
7 taxable years exceed $40,000,000 $20,000,000; and (ii) (iv) any
8 amounts payable to a district by the City with respect to any
9 parcel of property for any taxable year shall be reduced by the
10 amount of taxes actually paid to the district for that taxable
11 year with respect to that parcel or any leasehold interest
12 therein.
13     (c) Whenever the City acquires property that is subject to
14 this Section, the City shall notify the assessor of the county
15 in which the property is located. The assessor or the clerk of
16 that county shall, on an annual basis, notify the affected
17 taxing school district or community college district of all
18 property that has been identified as being subject to this
19 Section, and shall provide the district and the City with such
20 information as may be required in determining the amounts
21 payable by the City under this Section. The City shall make
22 payments as required by this Section no later than 90 days
23 after that information is received and verified by the City.
24     (d) As used in this Section, "Consumer Price Index" means
25 the Consumer Price Index for All Urban Consumers for all items
26 published by the United States Department of Labor.

 

 

HB2638 - 3 - LRB096 10664 AJT 20837 b

1 (Source: P.A. 93-450, eff. 8-6-03.)
 
2     Section 99. Effective date. This Act takes effect upon
3 becoming law.